Bright Futures Wealth Management LLC. Sells 210 Shares of International Business Machines Co. (NYSE:IBM)

Bright Futures Wealth Management LLC. trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,705 shares of the technology company’s stock after selling 210 shares during the quarter. International Business Machines accounts for 1.0% of Bright Futures Wealth Management LLC.’s portfolio, making the stock its 23rd largest position. Bright Futures Wealth Management LLC.’s holdings in International Business Machines were worth $2,214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in IBM. Royal London Asset Management Ltd. increased its stake in International Business Machines by 3.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 386,427 shares of the technology company’s stock worth $66,833,000 after purchasing an additional 12,428 shares in the last quarter. LGT Fund Management Co Ltd. bought a new stake in shares of International Business Machines during the second quarter worth $259,000. LGT Group Foundation raised its holdings in shares of International Business Machines by 3.9% during the second quarter. LGT Group Foundation now owns 140,541 shares of the technology company’s stock worth $24,307,000 after acquiring an additional 5,321 shares during the period. Longfellow Investment Management Co. LLC lifted its position in International Business Machines by 23.0% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 9,153 shares of the technology company’s stock valued at $1,583,000 after acquiring an additional 1,714 shares in the last quarter. Finally, Liberty Wealth Management LLC boosted its stake in International Business Machines by 533.3% in the 2nd quarter. Liberty Wealth Management LLC now owns 29,780 shares of the technology company’s stock worth $5,150,000 after purchasing an additional 25,078 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on International Business Machines in a report on Monday, June 24th. They issued a “buy” rating and a $200.00 price target on the stock. Stifel Nicolaus boosted their target price on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada raised their price target on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, BMO Capital Markets lifted their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $185.93.

International Business Machines Price Performance

Shares of NYSE IBM opened at $203.53 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The business’s 50 day moving average price is $190.09 and its two-hundred day moving average price is $182.66. The company has a market cap of $187.48 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 4.47 and a beta of 0.70. International Business Machines Co. has a twelve month low of $135.87 and a twelve month high of $205.95.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the firm earned $2.18 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that International Business Machines Co. will post 10.1 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.